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Jennifer will need to pay $200 at the end of every month for the next 12 months, except for the payment of the 5th month.

Jennifer will need to pay $200 at the end of every month for the next 12 months, except for the payment of the 5th month. What is the present value, assuming a rate of 4%, compounded quarterly?

$2,348.97

$2,254.09

$2,160.06

$2,152.26

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